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Instruction: Explain why the corporate tax rate was lowered to 17%

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The corporate tax rate was lowered in order to incentivize companies to invest more in the U.S. economy. Lower taxes mean that companies have more money to use for research, development, and expansion. This, in turn, helps create new jobs, stimulate economic activity, and generate additional tax revenues. Additionally, tax cuts can boost consumer spending, which further boosts economic growth in the long run. By lowering the corporate tax rate, the federal government is hoping to create a more favorable business environment and promote economic growth.